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The purpose of this study is to measure the technical efficiency of 20 Algerian insurance companies from 2016 to 2020, by using slacks-based measure (slacks-based measure [SBM] data envelopment analysis [DEA]) model. This research aims to provide a comprehensive assessment of this companies' efficiency, taking into account both the desirable and undesirable outputs.

The study uses a nonoriented, SBM model with the assumption of constant returns to scale to estimate the technical efficiency of commercial insurance companies over a five-year period. The inputs used are labor expense, agent expense and investments, while the outputs included are gross premiums and investment income as desirable outputs and gross claims as undesirable output.

Among 20 insurance companies evaluated, only 5 companies consistently achieved technical efficiency during the study period (Caisse Nationale de Mutualité Agricole [CNMA], MACIR, CARDIF, MUTUALISTE and AGLIC); so they represent the best practices in the Algerian insurance sector, with overall average of the technical efficiency is 81%. However, the reference sets analysis showed that CNMA and AGLIC had high robustness. Also, the results demonstrate the impact of ignoring the undesirable outputs on the accuracy of the assessment.

The sample of the study consists of the active insurance companies in Algeria, based on the Annual Insurance Reports of Algeria; there are 20 companies as shown in the table. The data are taken from the annual reports of insurance companies during the 2020 period, issued by the Algerian Ministry of Finance.

The challenge for insurance company is how to find a balance between reducing claims paid and simultaneously improving the quality of insurance services. In fact, it is observed that studies evaluating their efficiency ignore claims in the analysis process. Therefore, the study highlights the importance of considering undesirable outputs within the DEA framework; this allows for a more accurate assessment of the company's performance and helps in improvement. Furthermore, although the insurance sector plays a crucial role, it has not received enough research attention compared to other financial sectors, especially in Arab and developing countries.

The literature on efficiency assessment in the insurance companies shows a lack of addressing undesirable outputs (such as claims) within the DEA framework; so this study aims at bridging this research gap. Also, the study provides an overview of the efficiency of Algerian insurance companies.

This paper attempts to evaluate the impact of intellectual capital on bank performance in Bangladesh.

The authors analyze an unbalanced longitudinal data of 32 banks, which cover 318 observations of bank-year from 2010 to 2019. The study employs a dynamic panel model with the two-step system generalized methods of moments (SGMM).

The results show that bank performance is significantly positively affected by the intellectual capital (IC) in Bangladesh. In addition, the findings show that capital employed efficiency (CEE) is an essential determinant of bank performance rather than structural capital efficiency (SCE) and human capital efficiency (HCE) for the Bangladeshi banking sector.

This work is unique as no one has explored the impact of intellectual capital on Bangladesh's bank performance. The findings suggest that business owners, managers and policymakers who want to improve the efficiency of their organizations should spend continuously on IC and expand their investment into CEE, which includes both financial and physical resources, in order to obtain better bank performance.

The purpose of this study is to determine the relationships between organizational justice, organizational silence and organizational creativity and to examine the mediating role of organizational silence in the effect of organizational justice on organizational creativity.

Research data were collected using a face-to-face survey method applied to employees in the automotive industry in Turkey. The research model and hypotheses were tested by structural equation modeling.

Research results indicate that organizational justice positively affects organizational silence, organizational creativity is positively affected by organizational justice and organizational silence positively affects organizational creativity. Besides, according to the results, organizational silence has a partial mediating role in the effect of organizational justice on organizational creativity.

Although the relationships between organizational justice, organizational silence and organizational creativity were examined in previous studies in the literature, the role of organizational silence in the relationship between organizational justice and organizational creativity was not investigated. Besides, although previous studies examined the mediating role of variables that are thought to have a positive effect on the organization between organizational justice and organizational creativity, they did not study the role of a variable of organizational silence, which is considered negative. For these reasons, this study is predicted to differentiate the perspective in the literature and fills a gap in the literature.

The purpose of this paper is to examine the impact of directors’ and officers’ liability insurance (D&O insurance hereafter) on corporate governance and firm performance, with a specific focus on investment efficiency.

Using a sample of Chinese A-share listed firms from the period 2007 to 2020, this study uses Ordinary Least Squares regressions to investigate the research questions, as well as moderating and mediating effects. Additionally, alternative measures of investment efficiency are used, and the Heckman two-stage model and propensity score matching model are used to demonstrate the consistency of the findings and to mitigate the risk of endogeneity.

The findings of this study suggest that purchasing D&O insurance has a detrimental impact on corporate investment efficiency, particularly in the context of over-investment activities; robust internal governance mechanisms, exemplified by a higher shareholding ratio of the top shareholder and enhanced internal control quality, alleviate this negative effect; and financing constraints act as a mediating factor in the association between D&O insurance and investment efficiency.

Corporate investment efficiency is of significant importance for both national macroeconomic growth and micro-enterprise development. Notably, the prevalence of D&O insurance among Chinese firms is progressively increasing, thus exerting a growing influence. This study contributes to the existing literature on D&O insurance and corporate investment efficiency, providing valuable insights into the economic impact of D&O insurance on Chinese firms. The empirical evidence presented herein facilitates future reforms and adjustments.

The purpose of this paper is to examine the nature of relationship between ethical leadership and employee voice behavior. Study of employee voice behavior is important, because leaders in organizations make numerous decisions based on employees’ work-related inputs which do influence the decision quality and team performance.

Survey data were collected through structured questionnaire from Indian organizations. Data were analysed through statistical techniques such as confirmatory factor analysis and structural equation modeling.

The findings showed that ethical leadership did impact the employee voice in a positive and significant but moderate manner. The study also found no significant differences in ethical leadership and voice behavior across demographic variables such as gender, age, educational qualification and job level in the Indian context.

The study is conducted using single cross-sectional research design, and for better causal inferences of the relationship between various variables, future research studies may be conducted with longitudinal research design, multiple data sources and variety of industries with large sample size.

With erosion of ethical values and corporate scandals, managers need to develop and display ethical leadership as employees emulate their leaders’ ethical behavior because ethical leadership, or its perception, relates positively and significantly to employee voice behavior.

There is less study to understand ethical leadership and its influence on voice behavior in developing countries, especially in India. Ethical leadership behavior encourages employees to voice their work-related constructive opinions and concerns for improved decision-making and reduced unethical practices. Also, there is scarcity of research that explores the impact of demographic variables and this study is an effort to understand this gap.

This study analyses the effects of firm efficiency on firm performance and how controlling shareholders moderate the link between the two variables.

This study employs data envelopment analysis to estimate firm efficiency and the panel regression method to assess the hypothesised relationships among 1,295 firm-year observations of publicly listed firms in Malaysia from 2015 to 2019.

The results indicate that firm efficiency (technical efficiency, pure technical efficiency and scale efficiency) has mixed relationships with firm performance (return on assets, market-to-book ratio and operating cash flows), all of which are being moderated by controlling shareholdings.

This study highlights the importance of assessing firm efficiency as the key success factor for improving firm performance. Industrial managers should manage efficiently their resources or operating costs in achieving their corporate financial goals. Moreover, this study notes the presence of controlling shareholders, who can be either self-interested or company goal aligned.

This study suggests becoming efficient in transforming inputs into outputs is a prerequisite before investigating accrual-based and cash-based firm performance measures, and the presence of controlling shareholders matters in these regards.

This study investigates how the spiritual leadership style of a manager affects employees' intention to stay with the organization, taking into account the post-pandemic workplace and the expected economic downturn. Furthermore, this study aims to assess how employee voice behavior mediates the linkages between the spiritual leadership style and intention to stay and how this mediation is influenced by perceived interpersonal justice. Grounded on the self-determination theory of intrinsic motivation and social-exchange theory, this study seeks to advance the theoretical understanding of spiritual leadership and its associated outcomes.

The descriptive study included 379 frontline employees in India's tourism and hospitality sector. Responses were collected from selected employees using the snowball sampling method and met strict inclusion criteria. Self-reporting questionnaires were used to collect data from the participants. Confirmatory factor analysis was conducted using IBM AMOS 21.0, and hypothesis testing and drawing inferences were carried out using path analytic procedures with PROCESS Macro 3.0.

Consistent with the hypotheses presented in this paper, this study demonstrated a statistically significant indirect impact of spiritual leadership on employees' intention to stay with the organization, through indirect effects of employee voice behavior. Additionally, the conditional indirect effects of spiritual leadership on employees' intention to stay, mediated by voice behavior, were contingent upon the level of interpersonal justice as a moderator. Specifically, these effects were significant when the levels of interpersonal justice were low but not when they were high.

This study makes significant strides in developing and testing a pioneering model that examines the association between spiritual leadership and employees’ intention to stay with the organization. This research explores explicitly how this relationship is influenced by perceived interpersonal justice and employee voice behavior. The results of this study emphasize the criticality of cultivating a culture that inspires constructive criticism and elucidates its potential advantages, effectively bridging a gap in the existing scholarly literature.

This study empirically investigates the impact of directors' and officers' liability insurance on corporate environmental investment.

This paper takes A-share listed firms in the most polluting industries from 2013 to 2019 as the research sample. The authors perform multiple regression analysis to examine the research question, and other approaches such as PSM and Heckman two-stage model are applied to test the robustness of the main results.

The authors find that D&O insurance insured firms significantly decrease the level of corporate environmental investment. The results keep consistent after alleviating potential endogenous concerns. Further analysis shows that the negative association between D&O insurance and environmental investment is more pronounced in firms facing greater environmental pressure and stronger market supervision, and firms located in regions with a rich legal environment.

This research extends the literature on the antecedents of corporate environmental investment and the consequences of D&O insurance.

The study may deepen people's understanding of D&O insurance and inform them of its negative effects. This research sheds light on the potential factor resulting in a relatively low level of corporate environmental investment in China, which has an important policy implication for government to carry out some regulations to make a difference.

Against the backdrop that more importance has been attached to environmental protection globally, this paper is the first study to examine the impact of D&O insurance on corporate environmental investment in the context of the transitional and emerging market-China.

This paper aims to investigate the impact of a firm’s pension insurance contributions (PIC) on its financialization (investment in risky assets) using a sample of Chinese firms.

The authors use a multiple regression model to conduct the analysis.

The findings suggest that a firm’s PIC increases its financialization. Additional analysis suggests that firms with higher PIC are more likely to have lower operating profit and higher financial risk. In addition, the impact of PIC on financialization is more salient when a firm faces high industry competitiveness, holds more cash, has high labor costs and labor intensity or is non-state owned.

The paper adds to the growing literature on the effect of social insurance on corporate policies. The findings complement those related to the relationship between defined contributions and defined benefits retirement plans and corporate policies.

The study contributes to the debate on the merits of financialization. The literature is mixed on the pros and cons of financialization. The results suggest that financialization has an adverse effect on a firm’s performance and risk in the lens of increased PIC.

China has seen a trend of financialization arising from the rapid economic development in the past decade. Moreover, the PIC premiums in China are not trivial. Thus, the significant cost of PIC and the financialization trend suggest that the answer to the research question is timely and meaningful.

Viewing the domestic downside risk as a “pushing” factor for outward foreign direct investment (OFDI), this study aims to examine the surge in Chinese cross-border acquisitions (CBAs) between 2008 and 2017, a unique window when private firms in China were allowed to conduct CBAs.

This study examines the effect of down-side risk on cross-border acquisition performance by using the sample of Chinese A-share listed companies from 2008 to 2017. Specifically, this study considers three kinds of systemic risk, systematic risk and idiosyncratic risk, and respectively examines their impact on CBAs activities; this study also investigates their subsequent results after CBAs activities. The contingency effect of state ownership on the above relationship is also discussed.

The findings reveal that pre-CBA systemic risk explains the volume of CBA activities; CBAs are followed by a reduction in systemic risk; the interactions between systemic risk and CBAs decrease with the level of state ownership; and the above results do not hold for traditional risk measures (i.e. systematic risk and idiosyncratic risk).

This study contributes to the literature by revealing the role of systemic risk as a “pushing” factor in the context of OFDI and suggesting an alternative explanation for CBAs from China: Chinese firms (especially private firms) took advantage of the rare opportunity between 2008 and 2017 given by the government to transfer assets overseas through CBA.